During the last fiscal year 2018-19, we were able to match our first place record dues contribution. Our 62.2% participation far exceeds the response of most younger, less forgetful, classes. As a reminder, July 1 through June 30 is our fiscal year; not Jan. 1 through Dec. 30. Most classmates promptly return the dues card with their payment when they receive the first notice in September. Class dues for FY 2019-20 must be slightly increased to $55.00. Also this year, only $27.50 or 50% will qualify as charitable gift income tax deduction. These changes are necessary to subsidize the cost of our 65th Reunion because our Major Reunions Bank Account is currently meager. Gifts to the Class of 1955 Foundation remain 100% deductible.
Out of the 440 "active" classmates for whom we have a good mailing address, 294 sent in class dues for this past fiscal year. By June 30, 2019, our numbers dwindled to 410 classmates but the official "active class count" was set on July 1, 2018, the beginning of the fiscal year. Although the participation rate was down to of 62%, more than 50% also made gifts to the Class of 1955 Foundation. Twenty eight class widows contributed dues; some also made generous gifts to the Foundation. Enthusiasm outstripped the accounting skills for 16 classmates who sent in their dues twice. Their duplicate checks were contributed to The Class of 1955 Foundation which aids '55ers who have fallen on hard times.
Class dues should not be confused with Annual Giving. Dues are deposited in the Class of 1955 bank account and are used strictly for class activities. Donations to Annual Giving go into the University's general fund. Most classmates contribute to both.
Fiscal Year 2019-20 opens with our class bank account at a comfortable $18,254.06. Dues enable many class events:
- PAW subscriptions for all classmates and widows.
- Printing and mailing correspondence.
- Alumni Council Dues
- Class awards
- Website - www.Princeton55.org
- 2019-20 update of the Class Directory
- Memorial Service DVD
- Preparation and preliminary expenses for 65th Reunion
- Ivy Stone instillation and dedication.
Other events, which are self-supporting and not funded from the class treasury, include The Class of 1955 Foundation, Annual Giving, Princeton AlumniCorps (formerly Princeton Project 55), Fifty Five Fund for Senior Thesis Research, major reunions, receptions, dinners and class trips. We hope to include you in any or all of these activities.
Dues requests are mailed early in September along with the President's letter, again in November and in February. You may pay by check, major credit card or online. Please return your dues card so that we can avoid sending follow up notices to those who have already responded. When the system breaks down and someone gives twice, the duplicate payments are donated to The Class of 1955 Foundation.
Your financial contributions as well as your suggestions for additional activities are most welcome. Gifts to the Class Foundation are 100% tax deductible. Contrary to prior years, only 50% of Class Dues ($27.50) is eligible for a charitable deduction this year.